The Process of Looking Forward to Future Events and Conditions

question 30

Multiple Choice

The process of looking forward to future events and conditions, and deciding on the courses of action for achieving organizational goals, is which one of the four basic functions of management?

• A) planning
• B) organizing
• C) directing
• D) controlling

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Definitions:

Decrease Side

The side of an account that is used to record decreases in value, typically the left side for assets and expense accounts, and the right side for liability, equity, and revenue accounts.

Title

A legal term referring to a person's formal right or ownership of an object, real estate, or intellectual property.

Cash Payments

Outflows of cash by an entity, typically for expenses, goods purchased, or services rendered.

Credit

A financial term describing the ability to borrow money or access goods or services with the understanding that payment will be made in the future.